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Bullish piercing seen post a price fall with a high volume. This indicates the price would go up in short term and long positions can be initiated.
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Stock Ticker – NSE: MGL – Mahanagar Gas Ltd. – ENERGY
Bullish Trade plan:
Entry Level 980 Target 1013.25 Stoploss 946.75
Analyst Rating – :5/5
View Posted on 2019-10-27
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Dear Rajkumar sir,
You may please review the conditions for bullish piercing.
1) The body should cover the previous day’s low.
2) Today’s body should cover at least 50% mark of the previous body.
3) The upper tail should be small in size.
You may please refer the below sample for bullish piercing.
Yes i agree with @ssureshi
Thanks both.